Infoblox signed a deal for the space in June 2012, after Bixby pumped $5.5 million to modernize the campus.

Bixby has been active in the Valley of late, and specializes in acquiring and turning around older office space. The company recently claimed another success, signing Nimble Storage to its 165,000-square-foot campus at 211, 251 and 282 River Oaks Parkway in San Jose. And it just started construction on another multimillion-dollar rehab, a 250,000-square-foot, four-building project it calls "THE Campus."

The property that Bixby just sold to AEW was a Business Journal 2012 Structures Award winner for "Best Rehab/Reuse Project."

At the end of 2012, AEW Capital Management and its affiliates managed $34.8 billion of capital invested in about $48.2 billion of property and securities around the globe, according to a news release.

In a statement, Bixby said AEW acquired the property on behalf of an unnamed institutional partner. Both buyers were self-represented, Bixby added.

"This is an opportune time to realize our investment objective following the successful renovation and leasing of the project," said Bill Halford, president and CEO of Bixby Land Company, in the release. "We set out to create a compelling work environment with the image and high quality amenities sought by today’s companies."